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CoinMate Bitcoin Exchange

You can buy bitcoin, Bitcoin Cash and Litecoin with competitive trading fees on CoinMate.

Established in 2014, CoinMate is a European cryptocurrency exchange with a mission to offer simple and accessible peer-to-peer digital currency payments. With support for the Euro (EUR) and the Czech Koruna (CZK), CoinMate offers a fast and convenient way to trade bitcoin, Bitcoin Cash and Litecoin.

To help you decide whether CoinMate is the right cryptocurrency trading platform for your needs, we’ve gathered some information about its features, benefits and fees. Keep reading to find out what the platform has to offer.

Available countries

Based in Europe and offering support for EUR and CZK, CoinMate’s main target market is centred on European countries. However, it offers its services to customers from around the world, including Australia.

If you’re unsure whether you can access the platform from your country of residence, check the list of available countries on CoinMate’s account registration page.

Which payment methods are accepted?

You can deposit and withdraw funds from your CoinMate account using the following payment methods:

SEPA transfer in EUR

SOFORT (instant bank deposit)

Domestic bank wire in CZK and PLN

MoneyPolo

Cryptocurrency (BTC, LTC, BCH)

How much will it cost me to use CoinMate?

CoinMate’s market maker and taker fees are outlined in the table below.

Maker fee

Taker fee

Bitcoin

0.05% – 0.00%*

0.35% – 0.10%*

Bitcoin Cash

0.05%

0.1%

Litecoin

0%

0.05%

*If you place in the top 10 traders (by BTC trade volume) in any given month, you will be charged lower fees (maker fee 0.00% and taker fee 0.10%) on BTC transactions in the following month.

The fees that apply to account deposits and withdrawals vary depending on the payment method you choose. Check the table below for full details.

Payment method

Deposit fee

Withdrawal fee

SEPA transfer in EUR

EUR€1

EUR€1

SOFORT (instant bank deposit)

1.5% (min EUR€2)

N/A

Domestic bank wire in CZK and PLN

0

EUR€1

MoneyPolo

EUR€2

0.5% (min EUR€1)

Bitcoin

0

0.00001 BTC/0.00002 BTC

Litecoin

0

0.0004 LTC

Bitcoin Cash

0

0.00001 BCH

Are there any transfer limits?

The amount you can deposit or withdraw to and from your CoinMate account varies according to the level of verification you complete. This is outlined in the table below.

Is it safe to use CoinMate?

You can register for an account with CoinMate by specifying your country of residence, entering your email address and creating a password. You can then make cryptocurrency deposits and withdrawals from your account.

You can increase your verification level and transfer limits by providing the following:

Your name, address, mobile number and date of birth

Undergoing video verification using IDnow’s Video-Ident service

Providing further information and completing a KYC questionnaire

CoinMate also supports two-factor authentication from Google Authenticator, so you can use this feature to provide an extra layer of security for your account. The platform also rewards users for detecting and reporting bugs, helping to identify any potential security vulnerabilities.

CoinMate also says it uses three types of bitcoin wallets – hot, cold and super-cold. Only the hot wallet, which contains a limited amount of funds, holds keys online. Client funds are kept separate from CoinMate’s funds so that if the company ever becomes insolvent, customers should be able to access their account balance.

Customer support

If you need help with your CoinMate account, you can contact the support team by emailingsupport@coinmate.ioor submitting a support request through your account. CoinMate’s business hours are Monday – Friday 09:00 – 17:00 GMT.

Pros and cons

Pros

Variety of payment methods available

Competitive fees and exchange rates

User-friendly interface is easy to navigate and understand

Quick and advanced buying/selling available depending on your trading needs

Established in 2014

Cons

No support for Australian dollars (AUD)

Can only trade three cryptocurrencies

Next steps

If you’ve compared a variety of cryptocurrency exchange platforms and you’d like to register with CoinMate, click one of the green “Go to site” links on this page. You’ll be taken to the CoinMate website where you can sign up for an account by selecting your country of residence, entering your email address and creating a password.

You can then go through the ID verification steps to increase your transfer limits and access to account features, while it’s also recommended that you enable two-factor authentication for increased security.